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The professor who beat roulette

Source: The Hustle

On a warm night in May of 1969, a throng of awestruck gamblers crowded around a well-worn roulette table in the Italian Riviera. At the center stood a gangly 38-year-old medical professor in a rumpled suit. He’d just placed a $100,000 bet ($715,000 in 2019 dollars) on a single spin of the wheel. As the…

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How Ikea tricks you into buying more stuff

Source: The Hustle

On a recent Saturday afternoon, Alex Santos journeyed to his local Ikea with a singular mission: the procurement of a new Poäng chair. It was a simple in-and-out task. But 3 hours later, the 37-year-old IT manager found himself in the parking lot, slightly stupefied, with a shopping cart full of hand towels, throw pillows, and martini…

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Overcoming obstacles to effective scenario planning

Source: Mckinsey

To embed scenario thinking, organizations must institutionalize new mental habits and ways of working. This, our colleagues have argued, means that leaders must simultaneously instill a conviction that change is needed throughout the organization, role model the desired new behavior, reinforce processes and systems to counter bias, and ensure that the company acquires or builds…

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Top 10 tech trends that will shape the coming decade, according to McKinsey

Source: World Economic Forum

We’ll experience more technological progress in the coming decade than we did in the preceding 100 years put together, says McKinsey. And 10 tech trends will dominate this shifting landscape. Understanding the effects of this change can help avoid nasty shocks to the system, for both individuals and organizations. Businesses that are making the most…

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